Gage Company reports the following information for the current year. All beginning inventory amounts equaled 50 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 105,000 units 78,000 units $ 29 per unit $ 31 per unit $3 per unit $918,750 in total Given Belle Company's data, compute cost of finished goods in inventory under variable costing. $1,224,000 $3,060,000 $1,836,000 $2,646,000 $1,701,000

Gage Company reports the following information for the current year. All beginning inventory amounts equaled 50 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 105,000 units 78,000 units $ 29 per unit $ 31 per unit $3 per unit $918,750 in total Given Belle Company's data, compute cost of finished goods in inventory under variable costing. $1,224,000 $3,060,000 $1,836,000 $2,646,000 $1,701,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year 105,000 units Units sold this year 63,000 units Direct materials $ 29 per unit Direct labor $ 31 per unit Variable overhead $ 3 per unit Fixed overhead $ 918,750 in total Belle Company's product is sold for $89 per unit a Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $370,000 per year. Compute the net income under variable costing.
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Subject: accounting
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